The advent of the Internet and sophisticated electronic equipment infused the modern world with innumerable data sources which are interconnected. These data sources can emit data of various formats at different frequencies. Certain data sources produce discontinuous data at different time intervals that may be periodic or non-periodic. Other data sources produce data continuously as a data stream. Data stores of high storage capacity are used to save large volumes of data or ‘Big Data’ so that the data can be mined to identify trends. Various statistical data models are constructed based on the data to study the trends.